ThredUp (NASDAQ:TDUP) Stock Rating Upgraded by TD Cowen

ThredUp (NASDAQ:TDUP) was upgraded by equities researchers at TD Cowen to a “strong-buy” rating in a report issued on Tuesday,Zacks.com reports.

TDUP has been the topic of several other research reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of ThredUp in a research note on Friday, March 27th. Wells Fargo & Company dropped their price objective on shares of ThredUp from $13.00 to $10.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 3rd. Telsey Advisory Group dropped their price objective on shares of ThredUp from $12.00 to $9.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 3rd. Finally, Wall Street Zen lowered shares of ThredUp from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th. Three equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $9.80.

ThredUp Price Performance

TDUP opened at $3.74 on Tuesday. The firm has a market cap of $475.13 million, a price-to-earnings ratio of -24.93 and a beta of 1.85. ThredUp has a fifty-two week low of $2.98 and a fifty-two week high of $12.28. The company’s 50-day moving average price is $4.12 and its 200 day moving average price is $6.43. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.24.

ThredUp (NASDAQ:TDUP) last released its quarterly earnings data on Monday, March 2nd. The company reported ($0.04) earnings per share for the quarter, hitting the consensus estimate of ($0.04). The firm had revenue of $79.70 million for the quarter, compared to analyst estimates of $77.17 million. ThredUp had a negative net margin of 6.50% and a negative return on equity of 34.48%. As a group, sell-side analysts expect that ThredUp will post -0.56 earnings per share for the current year.

Insider Buying and Selling at ThredUp

In other ThredUp news, COO Christopher Homer sold 69,741 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $3.82, for a total value of $266,410.62. Following the sale, the chief operating officer owned 1,274,906 shares in the company, valued at approximately $4,870,140.92. This trade represents a 5.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Patricia Nakache purchased 13,157 shares of the company’s stock in a transaction on Tuesday, March 10th. The stock was purchased at an average price of $3.73 per share, for a total transaction of $49,075.61. Following the purchase, the director directly owned 14,017 shares of the company’s stock, valued at $52,283.41. This trade represents a 1,529.88% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 27.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On ThredUp

Several large investors have recently made changes to their positions in the company. Alpine Global Management LLC acquired a new stake in shares of ThredUp in the fourth quarter valued at approximately $74,000. nVerses Capital LLC acquired a new stake in shares of ThredUp in the fourth quarter valued at approximately $83,000. VARCOV Co. acquired a new stake in shares of ThredUp in the fourth quarter valued at approximately $201,000. Man Group plc boosted its holdings in shares of ThredUp by 51.8% in the fourth quarter. Man Group plc now owns 85,453 shares of the company’s stock valued at $546,000 after acquiring an additional 29,156 shares in the last quarter. Finally, Inspire Investing LLC boosted its holdings in shares of ThredUp by 53.3% in the fourth quarter. Inspire Investing LLC now owns 74,122 shares of the company’s stock valued at $474,000 after acquiring an additional 25,784 shares in the last quarter. Institutional investors and hedge funds own 89.08% of the company’s stock.

ThredUp Company Profile

ThredUp, Inc operates an online consignment and thrift platform that enables consumers to buy and sell secondhand clothing and accessories. Through its digital marketplace, the company offers curated selections of apparel for women and children, spanning a broad range of brands and styles. Sellers can order a “Clean Out Kit” to send in items they no longer wear, while buyers benefit from discounted prices and a simplified shopping experience powered by ThredUp’s in-house authentication, quality control and logistics capabilities.

In addition to its core consumer-to-consumer marketplace, ThredUp has expanded into business-to-business services with its Resale-as-a-Service (RaaS) offering.